REG - Pearson PLC - Notice of Redemption - Guaranteed Notes

PearsonAnnouncement

17/11/2022 10:30

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RNS Number : 7813G  Pearson PLC  17 November 2022

Pearson plc

November 17, 2022

 

NOTICE OF REDEMPTION IN RESPECT OF THE

$500,000,000 3.250% GUARANTEED NOTES DUE 2023 (THE "NOTES") (OF WHICH
$94,176,000 IN PRINCIPAL AMOUNT ARE OUTSTANDING)

Rule 144A Notes:

Cusip No.: 70501VAA6, ISIN: 1 US70501VAA61, Common Code: 092818845

Regulation S Notes:

Cusip No.: G6964RAA2 ISIN: USG6964RAA26, Common Code: 092818861

OF

PEARSON FUNDING PLC (THE "ISSUER")

GUARANTEED BY PEARSON PLC

NOTICE IS HEREBY GIVEN THAT, pursuant to Section 6.2 of the Indenture, dated
as of May 8, 2013 (the "Indenture"), by and among the Issuer, Pearson plc and
The Bank of New York Mellon, as Trustee, Paying Agent and Calculation Agent
(the "Trustee"), the Company's 3.250% Guaranteed Notes due 2023 (the "Notes"),
of which $94,176,000 in principal amount are outstanding, will be redeemed by
the Issuer in whole at a redemption price equal to (a) any accrued and unpaid
interest to (but excluding) December 16, 2022 (the "Redemption Date") and
Additional Amounts (as defined in the Indenture), if any, plus (b) the greater
of (i) 100% of the principal amount of the notes to be redeemed and (ii) as
determined by The Bank of New York Mellon, as Calculation Agent, the sum of
the present values of the remaining scheduled payments of principal and
interest on the Notes to be redeemed, not including any portion of such
payment of interest accrued on the Redemption Date, from the Redemption Date
to the maturity date, May 8, 2023, discounted to the Redemption Date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at the Treasury Rate (as defined in the Indenture), plus 25 basis points (the
"Redemption Price").

On the Redemption Date, the Redemption Price for each Note will become due and
payable and interest thereon, if any, shall cease to accrue on and after such
date.

For further information, please contact:

 Trustee, Paying Agent and Calculation Agent:  The Bank of New York Mellon

One Canada Square

London E14 5AL
 Issuer:                                       Pearson Funding plc

80 Strand

London WC2R 0RL
 Guarantor:                                    Pearson plc

80 Strand

London WC2R 0RL

 

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